For those of you that do not know what Color is, they are a mobile photo social network that was founded by Bill Nguyen. Rumor has it that Google offered them $200 million before their company even launched.
Color should have taken the offer while it was on the table because it is unlikely that they will see this kind of offer again. The service has not gained much traction despite the $41 million in debt and equity capital that they have raised this past March. Color co-founder Peter Pham and Chief Product Officer DJ Patil have left the company already. It will be interesting to see what their next step is.